Singaporean hospitality firm Ascott enters North India, launches serviced apartments in Gurugram with Paras Buildtech

Singapore based hospitality firm The Ascott Limited, which is also the wholly owned lodging business unit of CapitaLand Investment Limited, ventured in North India by launching its first serviced apartments in Gurugram in collaboration with local real estate developer Paras Buildtech.

The property, Citadines Paras Square Gurugram, is Ascott’s newest apart’ hotel in Gurugram and it is located on upscale commercial hub Golf Course Extension Road in sector 63A. Citadines Paras Square located at sector 63A Gurugram is part of Paras Square, a mixed-use development by Paras Buildtech, according to a statement.

It said that the apart’hotel features 94 fully-equipped studios, one-bedroom, and two-bedroom apartments, catering to both business and leisure travellers. The property has fully-equipped kitchenettes and on-site amenities such as meeting space, fitness centre, an all-day dining multi-cuisine restaurant, outdoor swimming pool, guest lounge among others.

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Vincent Miccolis, Managing Director of Middle East, Africa, Turkey and India for Ascott said that Gurugram is experiencing phenomenal growth, and this expansion is part of our goal to capture a larger share of India's dynamic hospitality market, which is expected to clock 11-13 per cent revenue growth in 2024-25.

“We are thrilled to unveil Citadines Paras Square Gurugram in the heart of India's Millennium City. India is a key driver of our global growth footprint, with a target of opening 10 new properties in India by 2027. This ambitious target reflects our strong belief in the immense potential of the Indian hospitality market, fuelled by a booming economy, rising disposable incomes, and a growing demand for serviced residences,” he said in a statement.

Kunal Rishi,COO, Paras Buildtech said that Paras Group is delighted to partner with The Ascott Limited for the launch of the first Citadines of North India at Paras Square Gurugram.

“This offering caters directly to the evolving needs of Gurugram's burgeoning Global Capability Centre (GCC) and technology hub clientele. By providing a strategically located, fully-serviced residence solution with exceptional amenities, we are confident Citadines Paras Square Gurugram will become the preferred accommodation partner for these businesses and their mobile workforces. This aligns perfectly with our vision to contribute to the growth of the hospitality landscape of the region," Rishi said.

Citadines Paras Square Gurugram marks as the first hotel in North India under Ascott India's portfolio, which now boasts a total of 18 properties across Bangalore, Hyderabad, Pune, Goa and Chennai.

Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Come of the company’s hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection among others.